Pete11, the simplistic view you put regards CWN may be correct...

Pete11, the simplistic view you put regards CWN may be correct sentiment wise in the short term, but there is no shortage of middle class Chinese wealth, looking to holiday in Macau nowadays. And to make it more appealing, the govt are approving more and more family friendly developments that rely less on gambling and more on entertaining:

Melco Crown Entertainment Ltd. plans to open a $3.2 billion casino in Macau on Oct. 27, joining in a competition to lure Chinese holiday tourists.
Melco, controlled by billionaires Lawrence Ho and James Packer, and other Macau gambling houses are spending $27 billion to build new resorts and tourist attractions to woo holidaymakers as China’s slowing economy and graft crackdown keep high rollers at bay. That has led to a 14-month downturn.
“Macau is going through a transitional phase from a very VIP gaming centric market to more mass focused,” Ho, co-chairman of Melco Crown, said in an interview in Macau. “It’s probably going to be a rough second half. Hopefully with Studio City opening it would be a new catalyst for the market.”
Studio City, opening in Macau after new projects by Galaxy Entertainment Group Ltd. in May, is a Hollywood-themed resort with Asia’s highest Ferris wheel and family entertainment developed with Time Warner Inc. Melco paid $70 million to make a promotional film directed by Martin Scorsese and starring Robert De Niro, Brad Pitt and Leonardo DiCaprio.
The resort will have a flight simulation ride with Batman flying through Gotham City and a 40,000 square feet (3,700 square meters) indoor play center with rides and other interactive facilities featuring DC Comics characters such as Daffy Duck and Bugs Bunny.
Gambling Tables
Melco is “actively” in talks with the Macau government on gaming table allocation for the new project, and is hoping to get 400 of them, Ho said, adding he is “very concerned” if the project doesn’t get that amount of tables.
“We hope the government will reward us more, for the hard work we have put in over the last 10 years,” he said at a press conference. Gaming will always be the financial engine for Melco Crown, while non-gaming amenities are an additional draw for customers, Ho, the son of 93-year-old Macau gambling mogul Stanley Ho, said during the interview.
Melco American depositary receipts advanced 3.9 percent to $21.49 on Wednesday in New York. They have declined 15 percent this year.
Studio City, Melco’s fourth casino with about 1,600 new hotel rooms, will also have a theater for magic shows, a 5,000-seat entertainment center and a TV production studio. The resort is situated next to the Lotus Bridge, which links to the developing Hengqin island in China’s Zhuhai city.

http://www.studiocity-macau.com